What Makes a Great Board Meeting?... I Got it So Wrong

By Darren Rawson

Darren Rawson is the chair of five private companies including AltaML and Chandos Construction. He’s a former CEO of three different private companies and has done business internationally for over 25 years in numerous industry sectors. 

As a former CEO, I used to believe a great board meeting meant:

• We started on time,
• I had answers prepared for every single question the board asked,
• We finished early, and
• I took no actions away from the meeting!

For many years, I felt board meetings were a necessary cost of doing business. Like any good engineer, I wanted to complete them with high-quality and efficiency, and get them done. I definitely did not want new projects or work arising from the meeting. I had enough on my plate already. Board meetings were not something I was looking forward to, unless they were followed by a round of golf or nice dinner.

Such a wasted opportunity.

It took me a very long time to realize, both as a former CEO and as a director, that this was a limiting viewpoint. I was missing out! Done right, board meetings can be opportunities for exploration with the board as a thinking partner.

Core Responsibility:

First and foremost, the board must make sure the company is on the right track. Oversight and discharging fiduciary duties are table stakes. A board cannot go beyond this if the business has issues or is dealing with challenges. In a time of crisis, the board will spend the majority of its time on oversight and crisis management.

Looking Forward:

However, when there are not major issues, how should a board operate? With a lens on the future of the business, the board should be spending most of its time on forward-looking discussions.

A great board meeting should be a place for the highest level of generative thought about a business. Highly experienced and talented directors are around the table. This is an incredible opportunity for the board and management to discuss, debate, and explore strategy! Imagine it is like having a team of superheroes at your disposal. It’s your brainstorming arena, where you plot the future, tackle the what-ifs and explore uncharted territories. It’s about looking ahead, asking the tough questions, and discovering the hidden gems within the team.

Making it Amazing:

We believe if you are going to have an active board of directors (advisory or fiduciary), why not have an amazing one? To have an amazing board, have amazing board meetings.

To do this, treat board time as a scarce and precious resource. Invest it in the most important topics, with the majority of time on key forward-looking conversations.

Once operational matters are handled, the executive team should explore unsolved problems and opportunities with the board. The board and management should engage as thinking partners, where directors are not only overseers but allies.

Signs of a Great Board Meeting:

An indication of a great board meeting is when everyone leaves feeling both tired and inspired. They are tired from diving deep into challenges and big ideas, but buzzing with excitement about the business's potential. The meeting ends not just with a pat on the back for the executive team, but with heads full of ideas and maybe uncertainty in areas where they know they need to do more work.

A fantastic board meeting isn’t just about ticking boxes. It’s a lively, thought-provoking and inspiring event. It should not feel boring, routine or obligatory. You should not be able to predict where the conversation will take you, but you know it’s going to be a ride worth taking.

So after decades of misunderstanding, I now believe if you are going to meet as a board, why not have a great board meeting?

Do you want to learn more about how to have great board meetings? We're here to help. Check out our High-Performing Board program or our approach to Board Design.